Whales Got Active After FED: They Purchased $135 Million in Bitcoin and $840 Million in Ethereum!
Release: 2024/06/13 23:19 Reading: 946
Market Roundup
Despite Bitcoin's volatility due to the US CPI data and the Federal Reserve's interest rate decision, it surged to $70,000 after positive CPI news. However, after the Fed's decision and Chairman Jerome Powell's comments, BTC declined to $67,000.
Whale Activity
Amidst the market fluctuations, whales seized an opportunity. Two new whale wallets purchased 2,000 BTC ($135 million) from Binance.
Whales are buying $BTC!
2 fresh wallets withdrew 2K $BTC($135M) from #Binance in the past 20 minutes.
Address:32a7u8tM45GPSdjzy7PbRvuncEvHFxnYR43D3a4fPJ5HKw43Qd6QHtoJ6RvMUL7UBDT5 pic.twitter.com/CJ827vIBK5
— Lookonchain (@lookonchain) June 13, 2024
Ethereum (ETH) Purchases
Whales also capitalized on the dip by purchasing Ethereum. According to analyst Ali Martinez, whales acquired over 240,000 ETH ($840 million).
These sizable purchases potentially reflect anticipation of rising ETH prices due to the SEC's approval of spot Ethereum ETFs and their expected trading commencement in June-July.
Giant Whale Altcoin Sales
Conversely, a giant altcoin whale engaged in substantial selling. The whale sold altcoins worth $8.38 million, leveraging the rally following the positive CPI news.
Spot on Chain reported that this whale, who had profited $11.4 million from investments in PEPE and UNI, sold Arbitrum (ARB), AAVE, Polygon (MATIC), XVS, and BLUR.
“A smart whale deposited $8.38 million in five altcoins on Binance at local tops:
40K AAVE worth $3.65M 265K
Previously, this trader made a profit of $11.4 million on PEPE and UNI.”
https://twitter.com/spotonchain/status/18010753334307299832
Note: This information is for educational purposes only and should not be considered investment advice.
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